Re:Adam Smith Hates Bitcoin
by parasubvert on Saturday April 13, 2013 @01:10AM
(#5542641)
The one area that Bitcoin is NOT like fiat currency and like the gold standard is that it is (somewhat) finite.
However, keep in mind that the programmers behind Bitcoin can change their minds and decide to generate more bitcoins. Or they can create offshoot bitcoin currencies that do this.
That's how it's like Fiat money -- there's just people and trust behind it, not shiny rocks in the ground.
What's curious is why some think managing the economy (to a limited degree) is a bad thing.
However, keep in mind that the programmers behind Bitcoin can change their minds and decide to generate more bitcoins. Or they can create offshoot bitcoin currencies that do this.
That's how it's like Fiat money -- there's just people and trust behind it, not shiny rocks in the ground.
What's curious is why some think managing the economy (to a limited degree) is a bad thing.